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Main Indicator: Retail Sales y/y
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| 9.7% | 3.0% | 3.3% | N/A | ||
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For March
Retail Sales increased at a fast clip in Switzerland during March, registering a 9.7% increase year-on-year. It was the biggest rise in 2 years, but was boosted thanks to an early Easter which increased spending on food and drinks. The labor market has held up strong giving consumers more money to spend, but as the US led slowdown seeps into the Euro-zone and other economies, employers may scale back. Switzerland, like we saw from Germany and Japan, may post better than expected 1st quarter GDP results, but if this momentum continues into the 2nd quarter remains to be seen. |
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Table of Past Data
| 7/17 | 8/15 | 9/19 | 10/16 | 12/18 | 1/22 | 2/18 | 3/17 | 4/17 | 5/16 | ||
| Actual | 3.1% | 5.1% | 3.3% | 3.8% | 2.2% | 2.9% | 1.2% | 1.3% | 3.3% | 9.7% | |
| Forecast | 4.4% | 5.0% | 5.2% | 4.0% | 5.1% | 4.0% | 5.2% | 2.7% | 1.6% | 3.0% | |
| Previous | 3.2% | 7.2% | 1.0% | 3.3% | 7.1% | 2.2% | 2.9% | 1.2% | 1.3% | 3.3% | |
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
Past Releases
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Actual | Forecast | Previous | Revised Form | |
| 3.3% | 1.6% | 1.3% | N/A | ||
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For February
Retail sales surprised on the upside, increasing at a 3.3% annual pace. Predictions were for a smaller increase of 1.6% compared to January's 1.3% measure. A strong labor market is giving consumers more spending money which they are using on furniture, electronics and household goods. Food and beverages accounting for a large portion of sales as a result of higher prices. With the economy escaping most of the effects of the US led global slowdown, higher inflation may be the only thing standing in the way of retail sales continuing to show good results. If consumers feel pinched by higher food and gas prices, they may limit their spending of other discretionary goods. |
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Actual | Forecast | Previous | Revised Form | |
| 1.3% | 2.7% | 1.2% | N/A | ||
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For January
From the Swiss Federal Statistics Office |
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Actual | Forecast | Previous | Revised Form | |
| 1.2% | 5.2% | 2.9% | N/A | ||
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Adjusted Annual rate for December
The Swiss Franc fell around 70-90 pips in the 3-4 hours following the release:
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Actual | Forecast | Previous | Revised Form | |
| 2.9% | 4.0% | 2.2% | N/A | ||
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Adjusted Annual rate for November From the Swiss Federal Statistics Office Retail sales rose less than expected in November, although at a robust pace. SNB board member Thomas Jordan noted that slowing in global economies will increase downside risks for the Swiss economy. Despite a less optimistic outlook on exports, consumption is expected to hold up as the outlook on the labor market is strong going into 2008. |
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Actual | Forecast | Previous | Revised Form | |
| 2.2% | 5.1% | 7.1% | N/A | ||
| For October. | |||||
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Actual | Forecast | Previous | Revised Form | |
| 3.8% | 4.0% | 3.3% | N/A | ||
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Annual rate in August Food, beverages and tobacco as well as 'others', contributed to the rise in prices. This was slightly offset by price drops in leisure, and clothing and shoes. |
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Actual | Forecast | Previous | Revised Form | |
| 3.3% | 5.2% | 1.0% | N/A | ||
| July's annual retail sales number improved on the back of the increased receipts from electronics, clothing and shoes sales, "other goods", and most of the items counted. Beverages and tobacco however declined. He's Swiss. The Swiss economy appears to be withstanding the credit crunch as consumers support its domestic consumption. | |||||
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Actual | Forecast | Previous | Revised Form | |
| 5.1% | 5.0% | 7.2% | N/A | ||
| The biggest contributor in the year was "other goods" (9.3%), while all components contributed to the rise. The Swiss Federal Statistics Office reported that retail sales rose 1.0% in the month of June. | |||||
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Actual | Forecast | Previous | Revised Form | |
| 3.1% | 4.4% | 3.2% | N/A | ||
| The annual inflation adjusted retail sales for May was up by 3.1% Home goods, personal accessories, and food and beverages drove sales in Switzerland. | |||||